On July 22nd 2010, Tawich Thanachanan, the Assistant Managing Director of Kasikorn Bank Public Company Limited, signed an agreement to lend 567 million baht of capital in a new hotel project called Kalima Resort and Spa. Kalima will be a 4-star sea-view resort and spa located near Kalim Beach (a small beach north of Patong Beach) on 24 rai of hill land. It will have 168 rooms decorated in Thai contemporary style. It is estimated to use 800 million baht of budget in construction, with total investments worth 1250 million. The resort would be complete late 2012.
Paponpat Niyomdool, an executive of Kalima Resort and Spa company, said that main reason to establish the resort was its belief in the tourism potential of Phuket. He could see that Phuket often recovers fast from many crises. Phuket was still many tourists’ top dream destination. He added that the resort’s main target in high season was European including Scandinavian visitors and the resort would focus on Asian tourists during the green season.